Conestoga Capital Advisors LLC trimmed its holdings in Simpson Manufacturing Co., Inc. (NYSE:SSD) by 4.6% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,347,745 shares of the construction company’s stock after selling 65,355 shares during the quarter. Simpson Manufacturing accounts for about 2.6% of Conestoga Capital Advisors LLC’s holdings, making the stock its 11th biggest holding. Conestoga Capital Advisors LLC owned approximately 3.10% of Simpson Manufacturing worth $130,947,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Simpson Manufacturing by 29.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,327 shares of the construction company’s stock valued at $365,000 after acquiring an additional 983 shares during the period. Rafferty Asset Management LLC purchased a new stake in shares of Simpson Manufacturing during the 2nd quarter valued at about $1,743,000. State of Tennessee Treasury Department increased its position in shares of Simpson Manufacturing by 15.4% during the 2nd quarter. State of Tennessee Treasury Department now owns 30,033 shares of the construction company’s stock valued at $2,534,000 after purchasing an additional 4,012 shares during the last quarter. Maverick Capital Ltd. purchased a new stake in shares of Simpson Manufacturing during the 1st quarter valued at about $161,000. Finally, Vanguard Group Inc. increased its position in shares of Simpson Manufacturing by 4.0% during the 2nd quarter. Vanguard Group Inc. now owns 4,545,377 shares of the construction company’s stock valued at $383,449,000 after purchasing an additional 173,419 shares during the last quarter. Hedge funds and other institutional investors own 88.69% of the company’s stock.
In other Simpson Manufacturing news, CEO Karen Winifred Colonias sold 4,935 shares of the business’s stock in a transaction that occurred on Monday, September 28th. The stock was sold at an average price of $95.82, for a total value of $472,871.70. Following the completion of the transaction, the chief executive officer now directly owns 39,779 shares of the company’s stock, valued at $3,811,623.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James S. Andrasick sold 1,000 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $99.28, for a total value of $99,280.00. Following the completion of the transaction, the director now directly owns 1,607 shares of the company’s stock, valued at $159,542.96. The disclosure for this sale can be found here. Insiders have sold 12,303 shares of company stock valued at $1,205,831 in the last ninety days. Corporate insiders own 0.70% of the company’s stock.
Several equities research analysts have recently commented on SSD shares. Zacks Investment Research raised shares of Simpson Manufacturing from a “hold” rating to a “buy” rating and set a $104.00 price target for the company in a research report on Friday, October 16th. Robert W. Baird raised shares of Simpson Manufacturing from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $106.00 to $112.00 in a report on Thursday, October 15th. Finally, DA Davidson lowered shares of Simpson Manufacturing from a “buy” rating to a “neutral” rating and increased their price objective for the company from $79.00 to $98.00 in a report on Tuesday, July 28th.
NYSE SSD traded down $2.05 during trading on Monday, hitting $94.91. The company’s stock had a trading volume of 859 shares, compared to its average volume of 328,996. The company has a debt-to-equity ratio of 0.17, a current ratio of 4.32 and a quick ratio of 2.94. The company has a market cap of $4.21 billion, a PE ratio of 26.56 and a beta of 1.36. The business’s 50 day simple moving average is $95.74 and its 200-day simple moving average is $85.19. Simpson Manufacturing Co., Inc. has a fifty-two week low of $47.02 and a fifty-two week high of $104.33.
Simpson Manufacturing (NYSE:SSD) last issued its quarterly earnings results on Monday, July 27th. The construction company reported $1.22 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.67. The business had revenue of $326.10 million during the quarter, compared to the consensus estimate of $251.94 million. Simpson Manufacturing had a return on equity of 18.50% and a net margin of 13.71%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same quarter last year, the company earned $0.88 earnings per share. Analysts expect that Simpson Manufacturing Co., Inc. will post 3.72 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 22nd. Investors of record on Thursday, October 1st were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Wednesday, September 30th. Simpson Manufacturing’s dividend payout ratio (DPR) is 30.87%.
About Simpson Manufacturing
Simpson Manufacturing Co, Inc, through its subsidiaries, designs, engineers, manufactures, and sells wood and concrete building construction products. The company offers wood construction products, including connectors, truss plates, fastening systems, fasteners, shearwalls, and pre-fabricated lateral systems that are used in light-frame construction; and concrete construction products comprising adhesives, specialty chemicals, mechanical anchors, carbide drill bits, powder actuated tools, fiber reinforced materials, and other repair products for use in concrete, masonry, and steel construction, as well as for concrete construction repair, protection, and strengthening applications, which include grouts, coatings, sealers, mortars, fiberglass and fiber-reinforced polymer systems, and asphalt products.
Read More: How to start trading in the forex market?
Want to see what other hedge funds are holding SSD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Simpson Manufacturing Co., Inc. (NYSE:SSD).
Receive News & Ratings for Simpson Manufacturing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Simpson Manufacturing and related companies with MarketBeat.com's FREE daily email newsletter.